Management Accounting – Setting Prices

cco Management Accounting Tutorial 5 15-3. List and briefly describe 4 major influences on pricing decisions Customer Demand: the demands of customers are of paramount importance in all phases of business operations, from the design of a product to the setting of its price. Product-design issues and pricing considerations are interrelated, so they must be examined simultaneously. For example, for a higher quality product; you need higher quality materials which will affect a higher cost and needs more time and this will lead to a higher pricing on a product.Also, a manager must not price its product out of the market price range. Actions of Competitors: companies must keep an eye on its competitors. If its competitor reduces its pricing on a product, they might have to follow suit to avoid losing its market share. However, one must not follow the actions of its competitors’ blindly as a company has to predict competitive reactions to its product-design and pricing strategy. Th e company must also be careful to properly define its product, such that if they increase the price of the product; will the consumers continue purchasing the product?Costs: some prices are determined almost entirely by market forces. Industries such as agriculture; where most products are market-driven. To make a profit, farmers must produce at a cost below the market price. This is very risky as it is not always possible to produce at a price lower than the market price and this will inevitably lead to losses for the farmers. In other industries, prices are set by adding a markup to production costs so managers do have some latitude in determining the markup. Therefore, both market forces and cost considerations heavily influence prices.No organization or industry can price its products below their production costs indefinitely. And no company’s management can set prices blindly at a cost plus a markup without keeping an eye on the market. Political, Legal and image-related issues: managers must adhere to certain laws. The law generally prohibits companies from discriminating among their customers in setting prices. It is also forbidden in collusion in price setting between major firms. Political considerations also can be relevant.For example, if the firms in an industry are perceived by the public as reaping unfairly large profits, there may be political pressure on legislators to tax those profits differentially or to intervene in some way to regulate prices Companies also consider their public image in the price-setting process. A firm with a reputation for very high quality products may set the price of a new product high to be consistent with its image. 15-11. Write the general formula for cost-plus pricing, and briefly explain its use. Price = Cost + (Markup % * Cost) 15-12. List the 4 common cost bases used in cost-plus pricing.How can they all result in the same price? – Variable manufacturing cost + (Markup % * Variable manufacturing cost) – Absorption manufacturing cost + (Markup % * Absorption manufacturing cost) – Total cost + (Markup % * Total cost) – Total variable cost + (Markup % * Total variable cost) Several different definitions of cost, each combined with a different markup percentage can result in the same price for a product or service. 15-13. List 4 reasons often cited for the widespread use of absorption cost as the cost base in cost-plus pricing formulas. – In the long run, the price must over all costs and a normal profit margin.Basing the cost-plus formula on only variable costs could encourage managers to set too low a price in order to boost sales. This will not happen if managers understand that a variable cost-plus pricing formula requires a higher markup to cover fixed costs and profit. Nevertheless, many managers argue that people tend to view the costs base in a cost-plus pricing formula as the floor for setting prices. If prices are set too close to variable manufacturing cost, the firm will fail to cover its fixed costs. Ultimately, such a practice could result in the failure of the business. Absorption-cost or total-cost pricing formulas provide a justifiable price that tends to be perceived as equitable by all parties. Consumers generally understand that a company must make a profit on its product or service in order to remain in business. Justifying a price as the total cost of production, sales, and administrative activities, plus a reasonable profit margin, seems reasonable to buyers. – When a company’s competitors have similar operations and cost structure, cost-plus pricing based on full costs gives management an idea of how competitors may set prices Absorption-cost information is provided by a firm’s cost accounting system, because it is required for external financial reporting under generally accepted accounting principles. Since absorption-cost information already exists, it is cost-effective to use it for pricing. The alternative would involve preparing special product-cost data specifically for the pricing decision. In a firm with hundreds of products, such data could be expensive to product. 15-14. What is the primary disadvantage of basing the cost-plus pricing formula on absorption cost? The primary disadvantage of absorption-cost or total-cost pricing formulas is hat they obscure the cost behavior pattern of the firm. Since absorption-cost and total-cost data include allocated fixed costs, it is not clear from these data how the firm’s total costs will change as volume changes. Another way of stating this criticism is that absorption-cost data are not consistent with cost-volume-profit analysis. CVP analysis emphasizes the distinction between fixed and variable costs. This approach enables managers to predict the effects of changes in prices and sales volume on profit. Absorption-cost and total-cost information obscures the distinction between variable and fixed costs . 5-15. List 3 advantages of pricing based on variable cost – Variable-cost data do obscure the cost behavior pattern by unitizing fixed costs and making them appear variable. Thus, variable-cost information is more consistent with cost-volume profit analysis often used by managers to see the profit implications of changes in price and volume – Variable-cost data do not require allocation of common fixed costs to individual product lines. – Variable-cost data are exactly the type of information managers need when facing certain decisions, such as whether to accept a special order.This decision often requires an analysis that separates fixed and variable costs 15-16. Explain the behavioral problem that can result when cost-plus prices are based on variable cost. If the managers perceive the variable cost of a product or service as the floor for the price, they may tend to set the price too low for the firm to cover its fixed costs. Therefore, if variable-cost dat a are used as the basis for cost-plus pricing, managers must understand the need for higher markups to ensure that all costs are covered. 15-17. Briefly explain the concept of return-on-investment pricingA common approach to determine the profit margin in cost-plus pricing is to base profit on the firm’s target return on investment 15-18. Explain the phrase price-led costing. Target costing sets the target cost by first determining the price at which a product can be sold in the marketplace. Subtracting the target profit margin from this target price yields the target cost, that is, the cost at which the product must be manufactured. This simple, but strategically important, relationship can expressed in the following equation:Target cost = Target price – Target profit 15-19. Why is a focus on the customer such a key principle of target costing? To be successful at target costing, management must listen to the company’s customers. Management needs to aggressivel y seek customer feedback and then the products must be designed to satisfy customer demand and be sold at a price they are willing to pay. In short, the target costing approach is market driven. 15-25. Describe the following approaches to pricing new products: skimming pricing, penetration pricing and target costing.Skimming pricing; which the initial product price is set high, and short-term profits are reaped on the new product. The initial market will be small, due in part to the high initial price. This pricing approach often is used for unique products, where there are people who ‘must have it’ whatever the price. As the product gains acceptance and its appeal broadens, the price is lowered gradually. Eventually, the product is priced in range that appeals to several kinds of buyers. Penetration pricing; which the initial price is set relatively low. By setting a low price for a new product, the management hopes to penetrate a ew market deeply, quickly gaining a la rge market share. This pricing approach often is used for products that are of good quality, but do not stand out as vastly better than competing products. Target cost; where the company first uses market research to determine the price at which a new product can be sold. Given the likely sales price, management computes the cost for which the product must be manufactured in order to provide the firm with the cost for which the product must be manufactured in order to provide the firm with an acceptable profit margin.Finally, the engineers and cost analysts work together to design a product that can be manufactured for the allowable costs. This method is used widely by companies in the development stages of new products. It is projected long-run cost that will enable a firm to enter and remain in the market for the product and compete successfully with the firm’s competitors. 15-27. Briefly explain the potential negative consequences in pricing decisions from using a traditio nal, volume-based product-costing system. Use of a traditional, volume-based product-costing system may result in significant cost distortion among product lines.In many cases, high-volume and relatively simple products are overcosted while low-volume and complex products are undercosted. This results from the fact that high0volume and relatively simple products require proportionately less activity per unit for various manufacturing support activities than do low-volume and complex products, yet a traditional product-costing system, in which all overhead is assigned on the basis of a single unit-level activity like DL hours, it fails to capture the cost implications of product diversity.

The Inseparable Link of Nursing and Caring

Caring is a human instinct. Especially with people that are close to our hearts, people would not hesitate to care for their general well-being. More so, people whose duty is in the service sector, they are more enjoined to care for their customers. This is why â€Å"caring† is both a duty and a responsibility to people involved in the health care profession. As defined by Mosby's Medical, Nursing and Allied Health Dictionary (2002), caring means the actions characteristic of concern for the well-being, such as sensitivity, comforting, attentive listening, and honesty for the patient.One of the frequent reminders offered to health care professionals is that â€Å"patients are people†. This is not because health care professionals do not know this or, worse, do not care about the status of their patients. It is simply that in the cut and thrust of decision making in relation to the clinical management of a patient’s condition, the human side of health care can be overshadowed by its technical aspects.No doubt, to become a successful nurse, one must not only learn to deal with their patients as clients, caring for them is important to assure their recovery from any maladies. Since the days of Florence Nightingale, there has been a direct link between nursing and service to others (Kearney, 2001). When a child is asked why they want to become a doctor or a nurse, they often respond, â€Å"To help other people†.   This response partially defines caring because caring cannot occur if others are not involved. Caring requires a recipient.Several theorists have developed conceptual models based on caring. One of them is Dorthea Orem, who developed the Self-Care Deficit Model (1995). Orem believed that all individuals desire to care for and meet their personal care needs and that each person has varied abilities to participate in meeting his personal self-care needs.The nurse attempts to meet the client's self-care needs in an effort to red uce the client's self-care deficits. On the other hand, Watson (1999) believed that caring is a moral ideal and that nursing is a caring art and science. The client is the center of human caring. Finally, Leininger (2001) purported that nursing is a learned art focused on caring in accord with an individual’s culture. To these theorists, caring definitely is a vital component of nursing.Moreover, Bertero (1999) deemed that caring includes â€Å"all aspects of delivering nursing care to patients† (p. 414). Thus, caring is the essence and the unifying core of nursing. In her book, Leininger proposed that caring is the trademark of nursing practice: â€Å"Care is the essence and the central unifying and dominant domain to characterize nursing. Care has also been postulated to be an essential human need for the full development, health maintenance, and survival of human beings in all world cultures† (1988, p. 3). These statements imply that caring is both the duty a nd responsibility of all nurses as members of the health care profession..Indeed, the central aim of both nursing and medicine is to act in the best interests of the patient. This is such an obvious statement that it is hardly worth setting down on the page. However, the old adage ‘easier said than done’ springs readily to mind once we begin to think out the practicalities of acting in the patient’s best interests. Most difficult, perhaps, is the question of how we know what the patient would say these are.The place of advance directives is relevant here as they present a very clear example of situations where the patient’s interests are known, yet they still lead to complex discussions about the validity of the patient’s view on their situation. The problem is that nurses have to be sure that the circumstances they face are the ones anticipated by the patient when the advance directive was made.With all the stress and challenges of being a nurse, c oupled with the management of extended workloads and staff shortages within already restricted finances, it is not surprising that the focus of nursing and caring gets lost within the biomedical emphasis. The advent of clinical supervision focused on reflective practice has promoted a refocusing of the emphasis towards patient-centered care and caring as central to nursing. It provides a structure within which any nurse can develop both personally and professionally, maximizing their therapeutic potential to improve patient care while balancing all challenges with caring for their patients.Although some nurses see their profession as a stepping stone for financial reward, others see nursing profession as a vocation   that provides self-satisfaction or self-fulfillment. Whatever intentions they might have in mind, nursing defines who they are. Nursing, to a professional, is a career plan, a central part of his core being; and caring is the behavioral outcome.The concepts of essenti al relationships and self-reward may comprise care of others and care of self. â€Å"Components of this service ideal include a profound sense of purpose, a true sense of capability, and a deep concern for others demonstrated as caring† (Hood & Leddy, 2003, p. 32). Service to others provides a meaningful life purpose. Service gives the individual feelings of competence in the ability to perform a task. Service is the link between concern for others and action in response to concern.Definitely, nurses would be able to meet a client's needs when provide services with care and concern. Caring is a commitment by the nurse to become involved, and its character is relational. Fact is that nurses entered into this relationship with their whole being as they chose to venture in this kind of profession (Bertero, 1999, p. 415). To realize that caring is more than a physical presence, nurses should promote a relational concern for the patient’s well-being. It is essential that th ere is an active commitment for both the process of healing for the patient and to the furtherance of our nursing knowledge. Thus, there should be a union of caring and competence and the link should be seen as the ultimate goal of the nursing practice.ReferencesBertero, C. (1999). Caring For and About Cancer Patients: Identifying the Meaning of the Phenomenon â€Å"Caring† through Narratives. Cancer Nursing, 22(6): 414–420.Hood, L. and Leddy, S. (2003). Leddy and Pepper's Conceptual Bases of Professional Nursing (5th ed.). Philadelphia: Lippincott .Kearney, R. (2001). Advancing Your Career: Concepts of Professional Nursing. Philadelphia: F.A. Davis Company Leininger, M. (1988). Care: The Essence of Nursing and Health. Detroit, MI: Wayne State University Press.Leininger, M. (2001). Culture Care Diversity and Universality: A Theory of Nursing. Boston: Jones and Bartlett.Mosby's Medical, Nursing and Allied Health Dictionary. (2002). Caring. Retrieved 27 October 2006, fro m xreferplus.Orem, D. (1995). Nursing: Concepts of Practice (5th ed.). St. Louis: Mosby.Watson, J. (1999). Nursing: Human Science and Human Care (3rd ed.). Norwalk, CT: Appleton-Century-Crofts. The Inseparable Link of Nursing and Caring Caring is a human instinct. Especially with people that are close to our hearts, people would not hesitate to care for their general well-being. More so, people whose duty is in the service sector, they are more enjoined to care for their customers. This is why â€Å"caring† is both a duty and a responsibility to people involved in the health care profession. As defined by Mosby's Medical, Nursing and Allied Health Dictionary (2002), caring means the actions characteristic of concern for the well-being, such as sensitivity, comforting, attentive listening, and honesty for the patient.One of the frequent reminders offered to health care professionals is that â€Å"patients are people†. This is not because health care professionals do not know this or, worse, do not care about the status of their patients. It is simply that in the cut and thrust of decision making in relation to the clinical management of a patient’s condition, the human side of health care can be overshadowed by its technical aspects.No doubt, to become a successful nurse, one must not only learn to deal with their patients as clients, caring for them is important to assure their recovery from any maladies. Since the days of Florence Nightingale, there has been a direct link between nursing and service to others (Kearney, 2001). When a child is asked why they want to become a doctor or a nurse, they often respond, â€Å"To help other people†.   This response partially defines caring because caring cannot occur if others are not involved. Caring requires a recipient.Several theorists have developed conceptual models based on caring. One of them is Dorthea Orem, who developed the Self-Care Deficit Model (1995). Orem believed that all individuals desire to care for and meet their personal care needs and that each person has varied abilities to participate in meeting his personal self-care needs. The nurse attempts to meet the client's self-care needs in an effort to re duce the client's self-care deficits. On the other hand, Watson (1999) believed that caring is a moral ideal and that nursing is a caring art and science. The client is the center of human caring. Finally, Leininger (2001) purported that nursing is a learned art focused on caring in accord with an individual’s culture. To these theorists, caring definitely is a vital component of nursing.Moreover, Bertero (1999) deemed that caring includes â€Å"all aspects of delivering nursing care to patients† (p. 414). Thus, caring is the essence and the unifying core of nursing. In her book, Leininger proposed that caring is the trademark of nursing practice: â€Å"Care is the essence and the central unifying and dominant domain to characterize nursing. Care has also been postulated to be an essential human need for the full development, health maintenance, and survival of human beings in all world cultures† (1988, p. 3). These statements imply that caring is both the duty and responsibility of all nurses as members of the health care profession..Indeed, the central aim of both nursing and medicine is to act in the best interests of the patient. This is such an obvious statement that it is hardly worth setting down on the page. However, the old adage ‘easier said than done’ springs readily to mind once we begin to think out the practicalities of acting in the patient’s best interests. Most difficult, perhaps, is the question of how we know what the patient would say these are. The place of advance directives is relevant here as they present a very clear example of situations where the patient’s interests are known, yet they still lead to complex discussions about the validity of the patient’s view on their situation. The problem is that nurses have to be sure that the circumstances they face are the ones anticipated by the patient when the advance directive was made.With all the stress and challenges of being a nurse, coupled with the management of extended workloads and staff shortages within already restricted finances, it is not surprising that the focus of nursing and caring gets lost within the biomedical emphasis. The advent of clinical supervision focused on reflective practice has promoted a refocusing of the emphasis towards patient-centered care and caring as central to nursing. It provides a structure within which any nurse can develop both personally and professionally, maximizing their therapeutic potential to improve patient care while balancing all challenges with caring for their patients.Although some nurses see their profession as a stepping stone for financial reward, others see nursing profession as a vocation   that provides self-satisfaction or self-fulfillment. Whatever intentions they might have in mind, nursing defines who they are. Nursing, to a professional, is a career plan, a central part of his core being; and caring is the behavioral outcome.   The concepts of essential relationships and self-reward may comprise care of others and care of self. â€Å"Components of this service ideal include a profound sense of purpose, a true sense of capability, and a deep concern for others demonstrated as caring† (Hood & Leddy, 2003, p. 32). Service to others provides a meaningful life purpose. Service gives the individual feelings of competence in the ability to perform a task. Service is the link between concern for others and action in response to concern.Definitely, nurses would be able to meet a client's needs when provide services with care and concern. Caring is a commitment by the nurse to become involved, and its character is relational. Fact is that nurses entered into this relationship with their whole being as they chose to venture in this kind of profession (Bertero, 1999, p. 415). To realize that caring is more than a physical presence, nurses should promote a relational concern for the patient’s well-being. It is essential that there is an active commitment for both the process of healing for the patient and to the furtherance of our nursing knowledge. Thus, there should be a union of caring and competence and the link should be seen as the ultimate goal of the nursing practice.ReferencesBertero, C. (1999). Caring For and About Cancer Patients: Identifying the Meaning of the Phenomenon â€Å"Caring† through Narratives. Cancer Nursing, 22(6): 414–420.Hood, L. and Leddy, S. (2003). Leddy and Pepper's Conceptual Bases of Professional Nursing (5th ed.). Philadelphia: Lippincott .Kearney, R. (2001). Advancing Your Career: Concepts of Professional Nursing. Philadelphia: F.A. Davis Company .Leininger, M. (1988). Care: The Essence of Nursing and Health. Detroit, MI: Wayne State University Press.Leininger, M. (2001). Culture Care Diversity and Universality: A Theory of Nursing. Boston: Jones and Bartlett.Mosby's Medical, Nursing and Allied Health Dictionary. (2002). Caring. Retrieved 27 October 2 006, from xreferplus. http://www.xreferplus.com/entry/3031342Orem, D. (1995). Nursing: Concepts of Practice (5th ed.). St. Louis: Mosby.Watson, J. (1999). Nursing: Human Science and Human Care (3rd ed.). Norwalk, CT: Appleton-Century-Crofts.

Principles of Good Writing by L.A. Hill

PRINCIPLES OF GOOD WRITING — L. A. HILL OBJECTIVE: This unit on L. A. HILL’S on ‘Principles of Good Writing’, is actually designed to add to your writing ability. After going through this unit, you will be able to: * Know about informative essay * Development logical and successful writing * Know the importance of newspaper and some good magazines. * Develop a taste for other aspects of linguistics INTRODUCTION TO THE ESSAYIST: Lesile Alexander Hill, a renowned personality among essayist, was born in the year 1918 in Greece and was educated at Cambridge university. He worked for the British council in Greece. Iran, Indonesia and India. Later he worked as adviser for the oxford university press, oxford, England, on the teaching of English as a second language His works include many thought provoking essays, comprehension and epitomisation for overseas students. Recent trends in educational practice, a guide to correct English, and teaching English as a second language are some very important to mention. Hill’s interest in linguistics extends to all human behavior and similarities and variations between different cultures. Hill’s good command over prose language is revealed clearly in this formal-tone essay â€Å"The Principles of Good Writing†. In this essay, Hill has brought to light the rules and regulations to be observed in shaping and sharpening one’s writing skills. He has given valuable tips regarding the secret of successful writing. The clarity of thought and expression, the logical development of the theme, the illustrative examples and the appropriate use of vocabulary, make it a wonderful piece of work. Summary: Hill, in first person narration, gives a piece of valuable advice to all the aspirants who want to be proficient in English-written and oral skills. In the opening passage, he clearly says that good writing demands good and ogical thinking. Good thinking, is not developed instantly, rather it emerges with practical experience and proper training. Initially thinking in the direction of logic and reason seems difficult because one’s mind may not be acquainted with this. But with time it will happen so and it will be reflected in one’s writing. Next to give expression to thought apt voc abulary is required. Depending on the form and tone of your work, vocabulary should be either formal or slang. To improve vocabulary you need to read widely different sorts of writing. A dictionary is of great help in this field. Sincere and diligent practice in writing is first concrete move towards a successful writing. Waiting for an inspiration will prove a hinderance towards your goal, so avoid it. Hill further suggests that one should be alive to all the happenings and pay heed to it. Even an ordinary talk heard in the street can be taken as a subject to start writing. It is required to note every new word or expression that one comes across while reading also. The writer also feels that love of mankind is an essential trait to see other state of minds, feel it intensely, and write it effectively. And, to be a good writer the readers must be kept in mind their interest and taste should be borre in mind always. ‘Impersonality of art’ should be maintained by a poet or writer while expressing emotions or feelings. The subject that is chosen for writing should be personal experience. ‘Words are body, sentences in structure, and the expression, the soul’. So apt words, correct sentence structure, and good theme, will together constitute a good writing. Introduction would be interesting and eye-catching and conclusion should not end abruptly. Finally, a writer is expected to write with zeal and true involvement- only then reader’s imagination can be kindled Critical appreciation Hill’s command over English language needs true appreciation, only those will be able to appreciate who, themselves have appropriate knowledge of this language. His epigrammatic style and lucidity of expression is remarkable; â€Å"Through this essay all that he wanted to do is teach the rules and regulations of good writing, and throughout the essay we find such tips. The formal tone is maintained throughout the essay. All the paragraphs are neatly linked and introduction is apt for the subject choosen. He himself avoided very carefully; the use of slang, jargon, hackneyed expressions, rhetorical, circumlocution, verbiage, and mingling of styles- formal and too much informal or slang. The title of the essay is very appropriate as the aim of the essayist is to teach principles of good writing by the means of various suggestions mentioned in the essay. Do’s and don’ts in the field of learning writing good English, is highly suggestive. The lucidity of thought and expression, neat structure with logical development of idea, apt examples and simple vocabulary of the essay, make it a remarkable piece of work. Summing up Hill is a writer of promising skill. His abilities are fully reflected in this thought provoking essay. ‘Principles of Good Writing’. In this essay he suggests wide reading, using a dictionary, note-making, frequent writing, maintaining humanistic and rational attitude, as essential traits for developing logical reasoning and good writing. He also suggests to avoid artificiality, avoiding second hand experience, avoiding use of jargon, rhetorical, slang along with formal, unnecessary verbose, and too much of personal element in writing. Reader-writer relationship is aptly emphasized. The essay on the whole is of great significance.

Risk Management Practices in Sea Ports Essay Example | Topics and Well Written Essays - 3000 words

Risk Management Practices in Sea Ports - Essay Example The risks that a port might be exposed to can be assessed and evaluated to further determine the costs for implementing a risk management plan. "Compliance with existing rules and regulations does not necessarily make for a safe port" (Lloyd's Register). This is very true and unfortunately many ports around the world rely on regulations alone to manage their port assets, this however can be detrimental to the overall need for a safe seaport. Lloyd's register is a company that assesses ships systems in order to provide improve their overall quality as well as facilitate safety for the crews, employees and customers. There are many in dependent company such as Lloyd's register that provide this service in an endeavor to help seaports meet and implement the standards required of them to maintain a favorable environment conducive to human life. Therefore physical assets are protected as well as maintained by ensuring that standards and policies are followed and continuously evaluated to guarantee that they meet the standards and policies set forth by government agencies. Seaports must deal with potential threats daily due to their easy access and vulnerability. The advent of seaports dealing with ongoing threat efficiently is more likely with a substantial well thought of risk management plan. ... Thus seaports have to use this to determine the level of risk management required. Costs can be a factor, however the cost of implementing a risk management plan is far trivial to the benefits that can be derived from it. Risk assessments will help a seaport determine if they are areas in which they can improve, and possibly provide training to make employees aware of any changes in procedures that may have been made as a result of the analysis derived from the assessments. Risks have varying consequences, and this is potentially important to seaports. Accidents can pose severe threats not only to the vessels, crews, and cargoes but also the public, environment, property, and local and regional economies (National Research Council Staff, 169). Accidents can be caused by human error or technical malfunctions; this ultimately puts individuals in contact with seaports on a day to day basis at risk. In the past there have been incidents that have prompted agencies to re-evaluate their procedures and measures taken to ensure the safety and protection of physical assets. A prime example of this would be the Exxon Valdez spilling that occurred on March 24, 1989. It was an environmental horror that occurred at sea and affected both wildlife and plants. Its departure area was Alaska at the Valdez oil terminal and bound for California. The main cause of this incident was attributed to human error brought on by exhaustion as well as insufficient traffic system. T he movement of hazardous or dangerous cargoes is not reviewed until a major marine accident occurs (National Research Council Staff, 169). This applies to the Exxon Valdez disaster, had proper measures and procedures

Questions Essay Example | Topics and Well Written Essays - 1250 words - 4

Questions - Essay Example In the development of their forms of government, Egypt went straight from pre-civilization to large government units, was more centralized and authority was concentrated in a divine Pharaoh. On the other hand, Mesopotamia passed through a city-state phase, authority was more dispersed and governance was exercised through councils and participatory institutions. In form of writing, both cultures developed complex forms of writing which was monopolized by the priestly class. However, Mesopotamia developed the cuneiform alphabet while Egypt had its hieroglyphics, a more pictorial form based on simplified pictures of objects abstracted to represent concepts or sounds. Mesopotamian writing material was comprised of clay tablets and animal skins, and produced an epic literary tradition. Egypt used the papyrus formed from reeds, but used it more for record keeping (Robert Guisepi, The Origins of Civilizations, 2007). In great part, Mesopotamia developed a more advance level of science and mathematics than Egypt, although Egyptians were first to determine the length of the solar year and developed a science of medicine. Egyptian civilization was not centered on science, however, but on religion, the worship of many gods, magical rituals, and obsession with life after death (Cornelius Petrus Tiele, Comparative History of the Egyptian and Mesopotamian Religions, 1882). While their early religions developed from an awareness of nature and the environment, their attitudes differed greatly. Egypt, prosperous and harmonious and consistent with its attribution as the â€Å"gift of the Nile,† regarded their gods positively with the promise of a joyous afterlife. Mesopotamian religion was gloomy and bleak, and their prayers reflected the absence of a personal relationship with their gods and goddesses who were suspicious of humans and frequently sent calamities to underscore their humanity – as in the message of the Gilgamesh epic (Michael Streich,

The case of Mrs. Mendez Essay Example | Topics and Well Written Essays - 1250 words

The case of Mrs. Mendez - Essay Example Mendez’s case. Her physical condition is deteriorating, which affects her psychologically. Her children will not let her talk about her impending death, which creates an imbalance in her psychological condition and she copes with this by withdrawing. Drake (2012) presents an adaptation model to understand how cancer patients should be taken care of as they are going through the process of living and dying. Some of the things that would be important to know, according to this scale include in this model are: why her shortness of breath is affecting her intake of fluids and food. Her physical appearance may be important to her as she lays in her bed, is better, which can effect QOL for many patients. There is no mention of church for her, though she â€Å"seems† to be religious, or at least superstitious. This should be explored. Drake (2012) states that nurses must understand early whether their patients are feeling depressed and help them receive treatment for it. Palli ative care will need to be discussed and end of life arrangements. 1. Discuss how a nurse can foster hope in this scenario? When and how can the concepts of palliative care be introduced in the scenario? How can you explain the differences between Palliative care and Hospice care? Fostering hope can be difficult in a situation with the Mendez family, because they are not willing to talk about the impending death of their mother. They are also not open to helping her prepare for death. Butt (2011) states that hope is a multidimensional and it changes as the terminally ill patient continues through their illness. Butt (2011) also states that hope is a factor that creates a better quality of life for the individual. In this situation, more has to be known about the family. Mrs. Mendez seems to be losing hope because the family cannot talk about the impending death. It is important to help the patient feel hopeful, despite what is happening, because it keeps them from being depressed or feeling despair (Turco, 1998). A nurse can foster hope by maintaining a positive relationship with the patient, helping the patient see humor whenever they can, touching the patient appropriately and reassuring them, and helping them control pain (Turco, 1998). In the Mendez family, the nurse can foster hope by providing good care for Mrs. Mendez, which includes making sure that she is comfortable as her pain increases. The nurse may also need to intervene for Mrs. Mendez by contacting the primary care physician and describing the situation as it stands now. According to Tyson (2001) the Hippocratic Oath states that the individual healthcare provider will consult with others who are more expert in situations when necessary, to help their clients. In this situation, Mrs. Mendez needs help from the nurse to create the resources needed for the family to thrive, and for Mrs. Mendez to have the quality of life that she needs as she moves toward death. Palliative care was important to ta lk about as soon as Mrs. Mendez refused chemotherapy. She and her family must understand Mrs. Mendez’s needs as her health decreases. The family must face the inevitable and they may need to see a therapist or a priest or minister to deal with the situation. In a study done by Hermann and Looney (2011), the authors found that patients need a thorough understanding of their symptoms and what to expect as becomes more debilitating.

The Law Coursework Example | Topics and Well Written Essays - 500 words

The Law - Coursework Example Laws are there to ensure that two individuals become a [part of each other in a legal form and these laws are there to protect the right of individuals to own a property. Laws are there to ensure that all individuals are free and safe; law restricts and deals properly with those individuals who try to violate the rights of others. Hence, the main reason of existence of law is to control and maintain social order. A society where law has no control or there is no existence of law, will be government by certain individuals who have higher authority and those individuals will use their power and harm the interest of the society and will operate against the two basic right of each individuals; all individuals are free and equal. Criminal law refers to the legal regulations that the state has created and if these regulations are not accepted and individuals who operate against these regulations, they are recognized as criminals by the court of law. Other forms of law are recognized as civ il laws, and this kind of law is practiced when two private entities fail to comply with an agreement. The constitution and the policy makers of US has made several efforts to standardize law in all jurisdiction, one effort of standardization has been made in standardization of Common Law. Common law has mainly been standardize to the extent of purchase and sale of assets, property, services and goods, this standardization has taken place as the entire nation has adopted the Uniform Confirmation Code. The policy makers have even tried to standardize tort law by developing new and revising old statements of torts, but not all jurisdictions have accepted the continuous changes in tort law and have rejected several changes. Tort law covers those areas in which one individual or one organization inflicts or tries to inflict harm to other individuals and

Reviewing Mixed Methods Essay Example | Topics and Well Written Essays - 1250 words

Reviewing Mixed Methods - Essay Example This statement is the hypothesis. A hypothesis is not always necessary for a study because â€Å"some areas of research are too new to warrant tests of hypotheses or the findings are so mixed that a specific hypothesis is not supported by the literature† (Cengage Learning, 2005b). However, they are a feature of the hypothetico-deductive scientific method. When testing a hypothesis, we do not necessarily predict the outcome of one variable based on a change in another, though this may also be the case. But herein lies the difference between a hypothesis and a prediction because testing a hypothesis can alternatively be concerned for example, with whether or not effects actually occur, whether some treatments have effects on an outcome measure, or groups differ from each other (Cengage Learning, 2005a). In short, a hypothesis concerns â€Å"a testable statement about the relationship between two or more variables† (Gross, 1996), which may or may not be a predictable cause and effect relationship. In factorial designs for example, a hypothesis â€Å"typically involves an interaction between your Ivs† (Cengage Learning, 2005b) i.e. the independent variables. Thus, a hypothesis allows a prediction to be made, but it is not itself a prediction, whereas a prediction is the expected result of an experiment based on a given hypo thesis (Hays, 1999). This distinction between a hypothesis and a prediction is often unclear (Singer, 2007) in students. The accuracy of a prediction related to a hypothesis could give a strong indication that the hypothesis is true (and so the null hypothesis is to be rejected). At the heart of research through hypothesis formation and testing is the drive for scientific exploration. However, when several hypotheses arise together we are dealing with broader theories. Whilst a hypothesis deals with specific sets of phenomena, a theory constructs a framework of plausible rational explanations for the whole phenomena. The general everyday

Management of Change Essay Example | Topics and Well Written Essays - 4000 words - 1

Management of Change - Essay Example Even though change is necessary for organization to achieve set targets employees do not necessarily embrace these changes, as they want to stick to the workplace rituals and habits developed over a period. Considering that change within the organization must be reflected in the values, norms and habits of human resource within the organization, this report presents the recent change in my own organization called Yadlink Solutions Company. For the purpose of this report, I will use an organization Yadlink Solutions as the main reference in the case study. Yadlink Solutions is a company that operates print newspaper businesses and an online business directory services in United Arab Emirates. The operations of the organization are made possible through the establishment of sales branches in various locations around the UAE with employees being over 1000. The organization was in 2007 to provide a range of services to its customers especially in the age of information technology development where services such as online news and magazine for a search engine, email services, maps, news, stock market updates, and coffee shop services, update on traffic, real estate contents, weather forecasts and web-based recruitment. These services have been offered based on the organization’s strategic positioning to take advantage of the continued shift in information consumption with many people choosing digital forms of source s of information instead of printed newspapers and magazines. Therefore, it became necessary that businesses in the area of mass communicating move from reliance on sales generated from print media to embracing the digital age. The change in Yadlink was necessitated by the need to introduce a culture, values and structure that have been aligned to meet the strategic growth goals that would further improve the market share

Global Financial Crisis Essay Example | Topics and Well Written Essays - 1500 words - 1

Global Financial Crisis - Essay Example From the early 90’s, the United States has been experiencing economic expansion of the highest magnitude. During this period, it’s real Gross Domestic Product increased by 32.9 percent or 3.6% annual growth rate. The major reason for this expansion is consumption. Consumption is responsible for 75% of GDP which has been on the rise at an annual rate of 3.8 percent. What fuelled this increase in consumption is the consumer credit spending. Since the consumer disposable income increased at a slower rate than consumption, people began to spend on credit. The housing bubble is another key reason for growth in the United States economy. The housing growth did not only lead to booming in the construction industry. The machinery sector increased also. Employment in the real estate was high and mortgage industry ballooned. However during the 2006-2009 financial crisis, mortgage and the real estate credit decreased by 53 and 44 percent, respectively. This led to another sharp de cline in the United States economy. The military budget is another factor in the American economy. The military budget has been on the rise particularly after September 11. The military represents a direct demand to the United States government. An increase in its spending increases production levels and creates employment to many people. When these employees spend their income, it further increases jobs and income to other people. However, spending on the military does not mean it necessary stimulate the economy. Military spending was able to stimulate the economy during the 1950s when urge for weapons was high than now. The economy needed such stimulation; with the growth of credit over the last several years, United States economic problems lie within the area of innovation and investment (David 15). Military spending has also affected the supply side of the Americans economy. Military spending reduces the ability of the United States economy to develop new goods and renovate its production technology. Countries that have an increased level of military spending tend to have low investment rates. Bankruptcy is another factor that plays a vital role in the United States economy. Bankruptcy benefits the economy since giving debtors ways of discharging their debts should encourage more borrowing and spending of funds. Consumer bankruptcy has affected the United States economy negatively. When there is a high rate of consumer bankruptcy, consumer’s confidence declines, and their spending reduces. This increases the consumer’s savings rate. Increased consumer savings reduce corporate investments, which lead to job cuts. Higher unemployment rates lead to an economic downturn. The economy of the United States has periodically been witnessing numerous downfalls particularly after September 11. There has been extensive financial crisis and housing disaster, but all in all the economy has managed to hold on as the World super power. It is not as secret t hat the people charged with ensuring that the financial system is stable in the United States helped cause the 2007-10 crises. The Financial Guardians in the United States and Europe established policies that encouraged adverse credit allocation, and a lot of risk taking by their financial institutions. They still stood by the same policies even after learning of the impending financial

Epidemiology (article analyses) Case Study Example | Topics and Well Written Essays - 500 words

Epidemiology (article analyses) - Case Study Example The aims of the study were to estimate the impact of these risk factors among HIV-infected population as compared to the general population and to determine the relative risk death among successfully treated HIV-infected patients without such risk factors (Obe et al, 2011). The sampling frame was based on all Danish HIV-infected patients who started HAART in the period 1 January 1998–1 July 2009 while the comparison cohort consisted of individuals matched on date of birth and gender. Only patients who had been on HAART for a period of one year were included in the study. A major finding of the study was that probability of survival from age 25 to age 65 was substantially lower in HIV patients confidence interval compared to the comparison cohort. There was a significant increase in mortality among HIV-infected patients aged 25-65 as compared to the comparison cohort. However, among patients not exposed to the three risk factors under consideration, mortality was almost equal to that of the general population comparison cohort for the age group 45–65 but doubled for the age group 25–45. The probability of survival at 65 years of age was 0.48 among HIV-infected patients and 0.88 in HIV-free group. However, for HIV patients with no risk factors, the probability of survival at age 65 was 0.86. Generally, it was observed that risk-taking behavior does not automatically result in increased mortality among HIV-patients without other risk factors. The study improves onto the general thought that proper management of HIV can substantively reduce mortality rates among HIV-infected persons. However, cormobidity as well as other risk factors as well as alcohol/drug abuse can increase mortality in HIV-infected patients on HAART. In conclusion, although HIV-infected patients on HAART still have higher mortality rates, the presence of other risk-factors, which can be identified early, further inflate this risk. Consequently,

Effects of Industrialization on Artist Essay Example for Free

Effects of Industrialization on Artist Essay The countries of the world have largely embraced the goal of industrialization which explains the reason why there is the label of developing and developed countries. The implications of the 19TH century has put the developed western world as the model of industrialization on the planet (Masten, 2008). The face of industrialization affected a number of fields in the scientific attempt to improve the economies and subsequently, raise the overall standards of living . Art was one of the disciplines that benefited from the effects of industrialization, and it came as a hope for many artists around the world (Locker, 1999). This paper therefore attempts to compare and contrast whether the rise changed the modern world leaving the natural world as the sole object of fascination to artists. Industrialization as a process sought to promote social and economic changes with the human societies transforming from pre industrial to industrial(Davis,2000). It saw the wider apart of modernization leading to overall social changes and economic developments mostly related to technological advancement. More cities were development following the rise modernity, as a result of large scale metallurgy and energy production (Basye and Holt, 2000). Philosophical changes also marked the emergence of industrialization leaving people in the western world with a more yearning to obtain different attitudes towards nature and artistic orientation (Novello, 2000). Accordingly, there is substantial research on the prevailing effects of industrialization on modernization and enterprise development . Artists have got an opportunity of expanding their careers following the expansion of commerce and the prevalence of skills that helps them in the exploitation of the abundant natural resources (Shields, 2006). This somehow happens at a relatively low cost, adaptability of labor and continual supply of their products to a wide range of market (Plaura, 2001). The radical changes in the 19th century involve the production of the electric power: an element that is succinctly fundamental to the continuous growth of economy as well as advancing the skills required for a particular job (Basye and Holt, 2000). In a survey done in some countries in Africa, middle East and Latin America, it was found out that there is relative open trading systems that can stimulate industrial innovation and cost efficiency across the board, leading to the readily available markets and free and flexible labor (Novello, 2000). As a result, positive work ethics mixed with skills, effectively used scientific discoveries and technological in boosting the production and subsequent increase in income levels. It is true that a number of major cities in the western world were widely modernized bringing about the effects of urbanization. To serve this house working populations, urbanization facilitated the concentration of labor (Davis, 2000). Artists therefore found themselves without splendid natural resources for them to exploit because of the population upsurge in cities. Consequently, they resorted to the natural worlds which had hitherto not felt the effects of industrialization for their resources (Masten, 2008). Another impact that followed industrialization was change in family structures and effects on the environment. Environmental stressors such as noise, water pollution, impersonal lifestyles and a myriad of health problems set into play (Locker, 1999). Many artists in the present world continue to grow in terms of their careers simply because, they have been able to advance all their artistic orientations (Shields, 2006). Prior to the 19th century, many paintings in America often dealt with the serene landscapes, idealized craftspeople and a host of other people. However, after the effects of industrialization had taken place, the whole scope of photographs and painting changed. Art was basically the reaction to the social and industrial conditions that prevailed (Masten, 2008). Later on, artists was obliged to create art for two audiences. Generally, artists of this important period in the history of mankind avoided painting many scenes portraying the new outfit of modernization and as such, this did not imply that they failed to create an art about the industry. Moreover, the deep enjoyment of art became the pastime for both the upper and middle class people (Davis, 2000). These were the people who essentially, preferred not to clutch over the hard work that may have been done by the lower class, let alone hanging any artistic socials commentary on their walls. Instead there was mere need for a picturesque that portrayed a neutral political landscape (Plaura, 2001). According to (Basye and Holt, 2000), several literatures enabled artists to access a medium where many of their engravings were published but the controversy that followed saw many middle class people opposing the view of the artists and eventually disapproving their works. Irrespective of the upper and middle class reaction against the artistic package of social commentary, many artists continued experiencing the strong urge for expressing themselves through art (Locker, 2000). They then resorted to the natural world where they found a lot of fascination for their works because of two major reasons. Depending on the specific needs of a particular artist, the natural word provided an avenue for artists to explore a host of untapped resources or aptly, got a ready and uncritical audience for their art (Masten, 2008). This basically strengthened their ambitions leading to affair ground for art. For instance, majority of the artistic collections portrayed the hard work of ordinary rural folks giving hem the urge to continue doing even better in their pursuit for economic survival. With this regard, several portraits were painted. They involved persons sewing a dress or a blacksmith hammering a horseshoe. particulrtly, such portraits depicted a blacksmith as possibly the man in charge of an enterprise. It showed a young man in the back, presumably an apprentice or the blacksmith’s assistant. Both were posed with their tools, with drops of sweat other cheeks seemingly proud of their trade. A factor like this one often encourage the general population because, despite the conditions for working being harsh, the portrait depicts clean, bearable and inviting scenario that give the people enthusiasm and pride altogether (Novello, 2000). In addition, the views of American urban life as well as industrialization were manifested through the channel of photography. Using a succinct comparison of the rural life, city life was pictured using sky crappers mushrooming everywhere (Shields, 2006). In this scenario, a chaotic combination of people and carriages filled the city street eliciting a feeling that city life is eventually becoming more foreboding for life and work hence, underscoring the importance of rich environmental conditions found in the rural life. Overly, the dawn of industrialization saw a marked reduction of human working conditions to unacceptable level. Active artists and photographers aligned to politics used art to comment on the industrial progress to their audience. However, there was stiff competition that forced some artists not to make enough fortune or just find a satisfactory audience for their works. They were therefore attracted to move to the rural world, where they got audience and commercial benefits for their activities. Somehow, they used the modern mechanized age to obtain a source of creativity which is paramount to the work of art. Without a creatively compelling work, their will be audience to stand all sorts of unattractive, and redundancy even if your work has the very best of the message (Plaura, 2001). There is a general history of artist getting more fascinated to the natural world. With the advent of industrialization, many artistic movements sprang up each with a unique reaction to the feeling of the movement it took after and time (Davis, 2000). Neoclassic which had taken lead form the Greek and Roman art, paved way for a more parallel period called romanticism. At this level, many artists became more imaginative with the rise of individualism, emotional intensity, and freedom describing the underlying the perceptual shift from the modern life to getting oriented to the natural world (Masten, 2008). Realism which followed brought about the realist artists who created artistic works that captured objectives and figures as they appear in real life. Artists found the natural world more ideal in portraying truthful visions of everyday life; an idea tat was much welcome to rural folks that the modern ones (Novello, 2006). Many artists felt the need to explore their relationship with nature by traveling through a wilderness. But because urban life had less or no fascinating wilderness, artists resorted for the rural world and found it more fascinating in delivering the exploration objective through a natural world (Plaura, 2001). For example, Mark Catesby, as English artist moved to the rural Northern America and found that it was the most true immersion into the American seaboard and other areas still unexploited and unknown to many Americans. He began photographing and drawing natural and social sceneries that had not suffered any natural disintegration, and hence, his works attracted a large scale audience (Shields, 2006). Another artist and explorer, Karl Bodmer, is a testament to the reason moving to natural world. he says that the most fascinating factor in the so regarded lost world is the boundless enthusiasm that artists get when they venture into worlds unknown to many, because there seem to be abundant opportunity and astonishment in those lands (Locker, 1999). The overall benefit is the reminder these places give in acknowledging that at some point, they had stopped at the crossroad of horrible, natural and sacred phenomena. They somewhat develop a relationship with the earth, facilitated by the nature, culture and their sense of fulfillment (Davis, 2000). Furthermore, the natural world is more attracting to artists because; it provides the ground that satisfy the curiosity and creativity of many artists. At the heart of every artistic symbol lies the expression of meaning. Artists tend to search for lager meaning in small aspects of life (Basye and Holt, 2000). According to the documentations in archives, the significance of artistic history is logged in the fissure between wilderness and civilization and this point out the primary focus of artists on rural worlds. Notwithstanding, rural world represents culture and nature and how it is reconciled with the modernization. Therefore, the imaginative role of art pulls out the existing radiance in capturing double meaning encased in the metaphors. When they finally take their products to urban setups, they somehow manage to prompt the city residents into the world of imagination embedded in the images formed in their minds as a resulted art (Masten, 2008). Moreover, artists use the natural worlds to find sources that subsequently define the unique artistic identities. This is clearly captured in the sentiments of a German poet, Rainer Maria. He believes that as a primary condition for writing a captivating verse, it is imperative that they see a myriad of cities, nature, men and several other things. Accordingly it is perquisite that one should know different flights of birds, animals, not forgetting gestures that flowers make especially when they open and close. The fundamental role of all this condition is to portray the accounts as creative as possible with the unique ability to come up with the work of art that suits in the context of everyday life. The only available source of the adventure is the natural world that is least affected by industrialization (Novello, 2000). Similarly, there is more attraction to the natural world. Artists think that by going there they provide a link between city life and rural life. All the opportunities of industrialization are made open to village folks giving them a chance to keep a breast with what is happening across the world (Plaura, 2001). For example, there was a painting in rural Indiana which showed an angel looking as though he is about to walk away from something he is acutely contemplating. It depicted the angel staring with his mouth wide open and the wings flung spread. This is the way artists presents issues in varying worlds and the serenity found in natural world promotes the efficient delivery of the message (Shields, 2006). The painting reinforces the religious teaching that God watches over us and somehow, strengthens the spirituality; an aspect that is under the threat of industrialization. Conclusion From the foregoing discussion, it is evident that the dawn of industrialization in the 19th century was accompanied by the sharp shift in the economical, social and ideological differences that paved way for new lifestyles. Individualism, which became rife as a result of urbanization, left artist with a host of intellectual orientation in terms of creativity. It is evident that the market for their art products got strained obliging them to get attracted to the rural world that had hitherto not adversely suffered from the effects of industrialization. Bibliography Basye, E and Holt, G 2000. Art and Architecture: The Advent of Industrialization, Yales, Yales University Press. Davis, A. 2000. A Social History of Graphic Art and Works Industry. New York, McGill-Queens Press. Locker, N. 1999. Science and Nature: An International Journal of Science. Vol. 23 Issues 56, London, Macmillan Publishers. Masten, A. 2008. Artwork in the Nineteenth Century. Pennsylvania, Pennsylvania University Press Novello, A. 2000. The Face of Art in the Nineteenth Century. London, Prentice Plaura, N. 2001. Art and Nature: Interelationship, Oxford, Oxford University Press Shields, S. 2006. Artists at the Continents End: The Peninsula Art Colony. Michigan, Routledge

The Future of Oil Article Analysis

The Future of Oil Article Analysis Analyzing the Logic of an Article Student Name: Jennifer R. Thomas Article Number and Name: Article 26 Its Still the One by Daniel Yergin Work Cite: Jackson, Robert M. Global issues 13/14 (1st ed.). Date: 2-23-2017 BACKGROUND What qualifications does the author have for writing an article on this subject? (This may also apply to quotes within the article.) Daniel Yergin received a Pulitzer Prize for The Prize: The Epic Quest for Oil, Money, and Power, published in an updated edition this year. He is chairman of IHS Cambridge Energy Research Associates. (p.113, Jackson) Yergin is the founder of Cambridge Energy Research Associates, (CERA), a member of the National Petroleum Council and a Global Energy Expert. Hes a graduate of Yale University with a BA and Cambridge University with a PH. D and has two honorary degrees, one from The University of Houston and the other from the University of Missouri. http://www.cnbc.com/daniel-yergin/ Chair of a task force for the U.S. Department of Energy, (p. 111, Jackson) When and where was the article first published? Does this affect its credibility? The article was published by the Foreign Policy in September/October 2009, pages 90, 92-95. Foreign Policy is a very reputable resource and Daniel Yergin has a very extensive background and knowledge about the Oil industry, however, the article is not a recent as most valuables resources are or that I would like to base my conclusions off of. I would have to say that the information provided by Daniel Yergin is credible but would like to see updated information to verify/confirm this article. ARTICLE ANALYSIS AND EVALUATION Describe the main purpose, what conclusions the author drew, and what assumptions the author made in this article. The purpose of the article is to give a perspective of the future of Oil globally and the impact Oil will make on regions globally. Volatility impacts many people, not just those in the oil market and worldwide. The article explains how the oil industry has changed over the years due to such things as technology, climate change, how it is used and how much is used. What is the authors point of view for this article? (What other points of view are there? Cushing Oklahomas oil allows them to play a role in the price of oil. Oil trading is a financial asset but unstable. Oil prices over the years have fluctuated from a high dollar to a very low dollar per barrel rate, with prices varying from $147.27, $59.87, $32.40 and as low as $10.00/barrel. Big oil industries have grown and control over eighty percent of the oil industry, while the smaller ones have disappeared. Oil get sold and traded to be turned into gasoline jet fuel, diesel, home heating oil and more. The demand for oil has changed, how we use it, how much we use and technology can change the energy portfolio as well. The oil industry has changed in that if offers pension funds, endowments, and hedge funder and includes money managers to assist with the finances attached to the oil industry. Oil use will increase as energy demands increase in the up and coming years. The increase in oil demand has impacted the pricing of oil. The increasing demand has also caused tension betwe en countries such as China and the U.S. and Britain and Germany due to scarcity. China has secured future oil by giving loans to those countries that are oil producers. The conflict between China and the U.S. is not just about oil but includes coal to where they both are the largest consumers of coal and the largest resources of coal as well. Climate change also impacts the future of oil which gives an additional reason to drive down the demands for oil. Technology needs to be used to find an alternative for oil use. Ideas of alternatives are electric cars, advanced biofuels, solar systems, new building designs, massive investment in wind, integrating electric cars with the electricity industry, and a revolution in the internal combustion engine. (p. 112, Jackson) The Government has taken an increasing interest, giving incentives and subsidies that will drive technical change. Decrease demands and becoming more energy efficient has been a focus of the United States and has been doin g well. Resources do however show that there is enough oil to keep up with the demands for years to come but restricted access, tax systems, civil conflict, geopolitics, rising costs for exploration and production and uncertainties about demand could interfere with oils reaching consumers. The final conclusion is that the oil market is not constant and that many things change the supply and demand of oil and the price of oil, the oil industry is unstable. List new terms introduced and define them. You may also include any important information that was presented in this paper. Volatility- Liability to change rapidly and unpredictably, especially for the worse. www.dictionary.com Somnolent- sleepy, drowsy, tired, lethargic, sluggish. www.dictionary.com WTL-West Texas Intermediate (p. 110, Jackson) Hedgers- A person who builds or repairs hedges (any barrier or boundary, a row of bushes or small trees planted close together, especially when forming a fence or boundary www.dictionary.com Speculators- the financial players. (p. 110, Jackson) Supermajors- a term applied to the six largest Oil companies in the world. www.oilprices.org Paper Barrels- an oil cargo that is sold and traded on the open market, but not actually shipped. www.wisegeek.com Muskier-as an odor www.dictionary.com Wherewithal- that with which to do something; means or supplies for the purpose or need, especially money. www.dictionary.com Were any propaganda techniques used in an attempt to influence readers? Explain. (See explanations at the end of this document.) I found this article to have very little if any propaganda. The article was based on statistics and was pretty matter of fact. One attention grabber for me were the highlighted statistics throughout the article, such as the bold and underlining of the cost of oil per barrel on page 111 and the on page 112 on the number of barrels the world demand rose. These would be a form of bandwagon propaganda. Page 110 also described the Oklahoma sun as hot, sweet crude oil, could be described as a form of propaganda. Other propaganda was the use of big name oil companies that people are familiar such as Exxon Mobile and Chevron and other not so big but still familiar like Amoco and ARCO. CRITICAL THINKING ARTICLE-SPECIFIC QUESTIONS * Refer to the weekly folder for the questions you are required to answer. The questions are located in the Critical Thinking section at the end of each article. Question # Answer 1 The age of oil is changing because the government is giving subsidies and incentives that will drive technology change and help decrease the demands for oil. Climate change also impacts the change in the new era. In addition to climate change and technology, there are now more players in the oil industry like financial managers, investors, hedgers funds and more. 2 The demand for oil is changing in that the demands are decreasing, take the example of the United States who are twice as energy efficient as they were in the 70s, electric cars are gaining more attention, advancement if biofuel, solar systems that are now being given attention as well as the wind. The government is giving more attention to energy efficient ways to improve the economy and reduce the demand for oil. 3 The U.S. and China relationship is one that not only deals with competing over oil but they also compete over coal as well. They are the largest resource of both. They have the same interest new technology solutions for the emissions released when coal is burned. 4 Article 3 is complemented by Yergins article, article 26 because both are making the point that the challenge of reducing consumption of fuel/oil is a difficult challenge and will involve many competitors, better technology and the involvement of the government. ADDITIONAL NOTES OR OBSERVATIONS This article was interesting because I did not realize how much the United States and China were in competition over oil and coal. I am old enough to remember some of the fluctuation in the changing of gas prices. I also find the information of this article very useful because of recent debate that a group of co-workers and I were having over climate change, energy efficient cars and biofuels. A team member was looking at purchasing an energy efficient car, which we found the team was divided as to for or against the talk of climate change and its existence. PROPAGANDA TECHNIQUES Bad (or Sad) Names The use of words, phrases, or expressions with negative connotations. Examples: slob, prude, moron, embarrassing Glad Names The use of words or phrases with positive, pleasant connotations. Examples: warm, lovely, delicious, lemony fragrance Testimonials The recommendation or endorsement by prominent and/or influential people. Example: Professional baseball star Derek Jeters advertisements for a credit card Transfer The use of names, phrases, or symbols to influence acceptance. Example: Using a movie stars photograph on the cover of a magazine to get people to buy it Just Plain Folks The use of dress, behavior, or other devices in an attempt to identify a product or person with ordinary people. Example: Photographs of the President of the United States eating spaghetti or chopping wood Card Stacking The presentation of only that information or those arguments most favorable to a particular point of view. Example: Making a list of all the advantages of buying a new car without making a similar list of all of the disadvantages Bandwagon The use of the fear of being different to influence behavior. Example: Twenty million people jog for their health. Shouldnt you? A 10-STEP PROCESS FOR ANALYZING AN ARGUMENT by Brian W. Carver After you have read the passage carefully, distinguishing between purported facts and opinions, answer the following questions thoroughly. What is the authors conclusion? What premises does the author provide to support this conclusion? What assumptions (unstated premises) are required for the authors argument to be valid? Do the premises seem uncontroversially true? If not, explain. Do the assumptions seem uncontroversially true? If not, explain. Are all terms in the argument adequately defined? If not, explain. Are there other facts, not discussed, that would be helpful to know in evaluating the argument? If so, explain. Does the author appeal to emotion or use words designed to influence our response? (e.g., discounts, hedges, assurances, repetition, etc.) If so, explain. Is your well-crafted version of the argument valid? That is, suppose the premises and assumptions are true, regardless of their actual truth or falsity. Ask yourself, given their truth, does the conclusion have to follow? (If so the argument is valid, if not, it is invalid.) If a clear valid/invalid answer is difficult, explain why. In your opinion, is your well-crafted version of the argument sound? That is, does it both have a valid form and have all true premises and assumptions? (If so, it is sound, if not, it is unsound.) Explain your answer. Retrieved from https://www.ocf.berkeley.edu/~brianwc/courses/thinking/2002fall/analyze.html

A Five Forces Analysis Of Air Arabia Tourism Essay

A Five Forces Analysis Of Air Arabia Tourism Essay According to this model any business has 4 stages during its life cycle. These stages are: Introduction, Growth, Maturity, and Decline. In the introduction phase a company just starts offering its new product or services in the market. At this stage the company might the only one in the market or its services or products might be completely new. In the stage of growth the company has to make huge investments for the marketing and research and development of the product so that the product can grow competitive in the market. The stage of maturity the curve of the industry life cycle becomes flatter and the rate of growth slows down. There are very few firms in this stage where the business giant has a little competition from the new comers in the industry. At last the decline phase of the life cycle is nearly inevitable if there are no regular improvements are done in the product or service. In this phase the sales decline at a very pace. Every company, industry or business goes throu gh all these stages in their life cycle but there are very few companies which have seen the maturity phase. Air Arabia is one of those companies of the UAE which is in the stage of maturity. The company is considered to be in the stage of maturity as it fulfils all the requirements to be in the stage. Air Arabia is the largest aviation company that offers the lowest flying cost. The strategy of cost minimizing and branding by increasing the number of flights is to gain sustainable competitive advantage in the industry and competitive edge over the new entrant competitors. Being in the phase of maturity of the industry life cycle the company Air Arabia must stick to its low cost carrier services and focused on the current business model. Air Arabia has captured most of the business hubs of the Middle East and North Africa region which has a potential developing market and prospective growth for the aviation industry and LCCs. The business strategy of the company should not be only s triving for cutting down the operational cost to provide low price carrier but to provide service which is more scheduled, convenient, more destinations it covers, and performs in time. Analysis of the Air Arabia based on Michael Porters five Competitive Forces: Threat of New Entrants The entry of new company in the industry influences the competition scenario in the industry. The aviation industry has a high potential of profits so it may attract competitors in the market. These new entrants might be threat for the Air Arabia aviation company which is the leader in the LCCs. These threats might be in terms of better services, lower cost of product and services. Air Arabia is a well established, profitable and most successful company in the industry so it would be difficult for the new entry to sustain in the market. The barrier of entry in the industry is also very high because of the huge cost of establishing the business. The business needs millions of millions dollars to be invested to establish a company. The cost of an aircraft is around $ 2 billions and to compete with the Air Arabia the competitors has to run the airline at low cost and offering better customer services. Air Arabia has a brand name and customer loyalty in the business which gives it compet itive advantage over the new entrants in the industry. Bargaining Power of Suppliers Every industry and business needs raw material to manufacture their final product or service and this raw material is made available by the suppliers. These suppliers can influence the profit involved in the industry by varying the cost or quality of the raw material. Thus the relations with between the manufacturer and suppliers become important for the industry. The airline industry has very specific suppliers for the business. One is the aircraft manufacturing companies like Boeing and Airbus and fuel suppliers. Because of scarcity of the suppliers of aircrafts and limited production of units the suppliers can control the prices and bargaining power will be higher with them. The fuel suppliers also control the cost of the tickets of airlines. This force is a threat for the Air India as the suppliers has more power then the company. Bargaining Power of Buyers This force is stronger in the airline industry in the Middle East and North Africa region. The buyers have higher power of bargaining for low cost, and better services. The situation is because of the large number of options available to the passengers and the number of passengers travelling in the LCCs is very high which will affect the business on a very large scale. Because of the availability of several options of low cost airlines and the facility of internet booking of air tickets the customers have many flexible options available. So to weaken this force of buyers the company ha to maintain the quality of services and the cost of the services should be kept minimum in the industry. Otherwise this force will also act as a threat for the company. Threat of a Substitute Products or Services Substitutes for the airline industry are trains or driving cars but availability and feasibility of these substitutes varies from region to region. Cars and trains might be substitute for the regional and local flights but they cannot replace international low cost flights. So the power of this force also differs in regions like in Europe where travelling with trains is easier and cheaper the threat will be higher but in UAE where the train facility is not good and because of the hot and dry climate travelling with cars is also not possible flights are the best option as it is more convenient and time saving. So the power of force will be weak there and opportunities of business will be higher. Rivalry among existing firms In the aviation the competition level is very high between various airline companies. In the Middle East and North Africa region there are many international airlines in the industry. All these companies are attracting customers by providing best customer services, best aircrafts and lowest price in the industry. But the Air Arabia has been established in the region for the past many years and holding the position of leader in the LCC airlines. Business-Level Strategy The differentiation strategy requires the development and improvement in the quality of product or services. These products are offered to customers with better and unique characteristics which are completely different and advanced from the competitors. The uniqueness in the services will add a value to them and this value may be charged as a premium price of the service by the company. Air Arabia has been the leader f the LCCs for the past three years. Now the company can use is brand value to cover up the extra cost of the exclusive services by the customers. The unique attributes of the services provided by Air Arabia will be able to charge some extra dollars from the customers if the suppliers increase the cost of their products. The current business strategy of Air Arabia is cost focused; it provides services at the minimum cost possible in the industry and is leading the LCC industry for the past 3 years. The company should now add some value to its services. These value added services may be better customer service, rapid innovation and advanced technology. But if the company will practice this new business strategy along with its brand image then the threats and weaknesses can be overcome. To be successful with the differentiation strategy of business an organization might have certain strengths: Use of best and advanced scientific and technological concepts. Expert and competent work force for developing value added products or services. Sales team should be skilled enough to spread the advanced features and usability of the product. Brand image and reputation to improve quality and advancements. Value in the service and product can be created by implementing following steps in the business: Lowering Buyers Costs Improved quality will minimize the chances of problems in the services and thus the cost of buyer will also get reduced. Raising Buyers Performance The main objective of increasing the quality of services is to entertain the customers with better services and let them enjoy the service. Sustainability The uniqueness and reputation of the products will create barriers and high switching cost. Risks of Using a Differentiation Strategy Risks involved in using differentiation strategy in the airline industry are high. Competitors of Air Arabia can start imitating its business model or tastes and requirements of customers might change very frequently which might loose the value the service so the service will need changes accordingly. Functional-Level Strategies Internal analysis Business Model Mission, Vision, Values, and Goal Air Arabia is the leading firm in the field of low cost carriers with the mission of revolutionizing the air travel in the Middle East and North African region. The approach of the company will be novel and innovative which will offer services satisfying to the full value of money of customers. To achieve the mission of the company it will use low fare operations to grow the profitability of the organization. The teams of the Air Arabia will be highly motivated for customer satisfaction which will showcase the highest standards of operations and will manage the operational cost of the company. The vision of Air Arabia is To be one of the worlds leading Budget Airlines with respect to: Profitability and Margin Innovation Reputation Operational Excellence Air Arabia shows its loyalty to its passengers by offering them the minimum rates and best combination of rates and services which will attract them to travel with Air Arabia more frequently. The organization commits to its shareholders the highest and most secure return on their money. The company with its value Pay Less, Fly More offers safe, reliable and comfortable air travel throughout its network more often. The company always looks forward to meet the requirements and expectations of its valued customers by offering various value added services and offers. The company always invites the suggestions and feedbacks from the customers in order to improve its services and offerings. The journey with Air Arabia should be a wonderful experience is the main point of dedication of the company. Conclusion The Air Arabia must adopt generic business strategy of differentiation in addition to its current cost focused strategy. This mix of business strategies will gain competitive advantage over its competitors to the company. The better quality of services will make it the best company in the airline business. Air Arabias AcelAero was the multifunctional reservation system. It has offered and software solution enterprise: airline for better operational services. The company offers flights to more than 65 destinations around the world. Air Arabia understands the value of money of the customers and provides services that are compatible to the price customers have paid. All these are the uniqueness and advantages of the company in comparison to other airlines. Air Arabia will gain competitive advantages by focusing on other market segments. Like providing cargo services to Aramex, partnering with Dubai bank and Dubai Islamic Bank for the online payment facility, offering various gifts and v ouchers on the annual celebrations of the company. All these steps of the company are aimed to improve the brand name and corporate image of the company, regionally or internationally. These value added services of the company will help in increasing the number of customers and number of repeat customers who were once satisfied with the services of Air Arabia. The Air Arabia airlines company is in the maturity stage of the business life cycle so it will have to face strong competition with the competing airlines companies. To gain competitive edge over its competitors each company will be using offensive business strategies rather than defensive one to remain competitive in the market. The research and analysis of internal and external factors affecting the position of company in the airlines industry proposes following recommendations: The cost of operations of Air Arabia is increasing because of increasing fuel prices and giant investments in aircrafts and its services. The company must minimize the operational costs by improving operations in the business, particularly improvement in maintenance process, aircraft utilization, and effective scheduling of flights. Labor cost can also be reduced by using technology in various distribution processes. Although Air Arabia has threats of the high class airlines which provides high level of services to the passengers, the company is a leader in the low cost airlines. So cost of tickets can be increased up to a certain extent in order to improve the quality of services and add some value to those services. Air Arabia can remain competitive in the market because it is the leader of the LCCs and charges of other high class airlines are too much for a normal non business class customer. By extending the roots of the business in such a manner the company can grow its market s hare in the business class customers too. Air Arabia has routes in more than65 destination all over the world but as the UAE is a main attraction of global tourism so the routes of the airlines should be increased. The company should join some global alliances in order to widen the range of price and service offered by the airlines.

Personal Narrative: My Visit to Agra and the Taj Mahal Essay -- essays

Taj Mahal Out of many places I visited all around the world, the place I like the most is the beautiful city of Agra. It’s a quite town located on the North of India. When we talk about Agra one image that comes in mind is Taj Mahal. Yes one of the seven wonders is here. Agra is full of architectural monuments. And I also visited Agra Fort, Fatehpur Sikri, and Buland Darwazaand. Food was not really good. Besides Taj Mahal, Agra is famous for handicrafts, leather and fine arts. It was fun shopping at Agra. Taj Mahal. ( Mahal is the word in urdu language used for Palace) How can I describe The Taj Mahal? You can’t its impossible. You just have to experience it. To gaze in wonder at that magnificent dome and elegant gardens will be a moment that you remember for the rest of your life. It is one of the greatest sights in the world, some say the greatest, and like Victoria Falls, The Grand Canyon, and Macchu Picchu, it simply is one of those things you have to see in your life. The architectural grace and symmetry of the Taj Mahal just takes your breath away. We had chosen our visit carefully--the sun was setting and the light that washed over the Taj was golden in color. The minarets were now stark against the setting sun . The actual dome was a surprise, it is not yellow-white but blue-white and covered in inscriptions and detail. From below it looked like something out of "Arabian Nights." But inside were the tombs of Mumtaz Mahal and Shah Jahan. The central tomb is a lofty cham ber with light streaming through fine latticework, and hanging above was an elaborate lamp. Words cannot describe its beauty when you stand on that marble platform overlooking the Yamuna, with the setting sun turning it into a golden ribbon. You may a... ...traditions. I brought Agra rugs, Agra Marble. As the world famous Taj Mahal is made purely of Marble, it is natural that the markets must be flooded with the replicas of the Taj in marble, little stone elephants, and lovely marble coasters. Agra is also famous for leather industry, The leather workers of Agra offer shoes, slippers, sandals, purses, wallets, bags, belts, clothing, lampshades, furniture, beanbags and many more items made of leather. We can purchase for affordable prices with wide choices. Different people have different views of the Taj but it would be enough to say that the Taj has a life of its own that leaps out of marble, provided you understand that it is a monument of love. As an architectural masterpiece, nothing could be added or subtracted from it. I think everyone should visit Taj Mahal at least once in their life, if they get a chance.

The Influence of Beck :: Bek David Campbell Musicians Essays

The Influence of Beck One of the most eccentric and talented performed of my time is definitely Beck. I have followed Beck since my young teen years and have found that his music has followed me in every aspect of my life. This soundtrack of my being has become so influential that I look forward to every album as a step in the next direction of my days. Bek David Campbell was born July 8, 1970, in Los Angeles, and came from an exceptionally sturdy music background. His father David Campbell, was a conductor and string arranger giving Beck his strong musical background. His mother, Bibbe Hansen, was an actress who went as far as to work with such artists as Andy Warhol. Also, his grandfather, Al Hansen, was involved with the Fluxus art movement and was best known for launching the career of Yoko Ono. Beck grew up mostly in Los Angeles, also spending some time in Europe and in the Kansas City area with both of his sets of grandparents. A seemingly bad decision to drop out of school in tenth grade led to Beck’s early career as a street performer playing acoustic blues and folk music, as well as trying his hand in the poetry. In 1988, he produced a cassette of home recordings called The Banjo Story, which led to his move to New York in 1989. He soon returned to L.A. to find his calling at rock clubs by playing a few songs in between the regular sets. In 1991, Bong Load Records discovered Beck. The label gave him the idea to mix his eccentric style with hip-hop beats creating the infamous Loser single. This was my first encounter with Beck’s music. I was a young teen that was into the grunge movement by the likes of Kurt Cobain and found the tunes on Mellow Gold, the CD that contain the â€Å"Loser† single, to be amazing. I soon found myself buying a yard sale guitar and teaching myself how to play and mimic Beck’s every move on the folk axe. While I was busy enjoying these sweet sounds, Beck's major-label debut, Mellow Gold, was becoming the â€Å"anthem for the so-called slacker generation†. It quickly climbed into the Top 20 and eventually went platinum. He quickly signed to DGC, the David Geffin Recording Company, and put out two more independent albums Stereopathetic Soul Manure, which consisted of lo-fi noise rock and One Foot in the Grave, material from Beck's 1992 session for K Records. The Influence of Beck :: Bek David Campbell Musicians Essays The Influence of Beck One of the most eccentric and talented performed of my time is definitely Beck. I have followed Beck since my young teen years and have found that his music has followed me in every aspect of my life. This soundtrack of my being has become so influential that I look forward to every album as a step in the next direction of my days. Bek David Campbell was born July 8, 1970, in Los Angeles, and came from an exceptionally sturdy music background. His father David Campbell, was a conductor and string arranger giving Beck his strong musical background. His mother, Bibbe Hansen, was an actress who went as far as to work with such artists as Andy Warhol. Also, his grandfather, Al Hansen, was involved with the Fluxus art movement and was best known for launching the career of Yoko Ono. Beck grew up mostly in Los Angeles, also spending some time in Europe and in the Kansas City area with both of his sets of grandparents. A seemingly bad decision to drop out of school in tenth grade led to Beck’s early career as a street performer playing acoustic blues and folk music, as well as trying his hand in the poetry. In 1988, he produced a cassette of home recordings called The Banjo Story, which led to his move to New York in 1989. He soon returned to L.A. to find his calling at rock clubs by playing a few songs in between the regular sets. In 1991, Bong Load Records discovered Beck. The label gave him the idea to mix his eccentric style with hip-hop beats creating the infamous Loser single. This was my first encounter with Beck’s music. I was a young teen that was into the grunge movement by the likes of Kurt Cobain and found the tunes on Mellow Gold, the CD that contain the â€Å"Loser† single, to be amazing. I soon found myself buying a yard sale guitar and teaching myself how to play and mimic Beck’s every move on the folk axe. While I was busy enjoying these sweet sounds, Beck's major-label debut, Mellow Gold, was becoming the â€Å"anthem for the so-called slacker generation†. It quickly climbed into the Top 20 and eventually went platinum. He quickly signed to DGC, the David Geffin Recording Company, and put out two more independent albums Stereopathetic Soul Manure, which consisted of lo-fi noise rock and One Foot in the Grave, material from Beck's 1992 session for K Records.

Ben & Jerrys Homemade Ice Cream - Marketing Stratgies :: GCSE Business Marketing Coursework Essays

Ben & Jerrys was experiencing a steady growth within their sales figures from 1990 to 1993. However, In March 1994, Cost of Sales increased approximately $9.6 million or 9.5% over the same period in 1993, and the overall gross profit as a percentage of net sales decreased from 28.6% in 1993 to 26.2% in 1994. This loss might have been a result of several reasons, such as high administration and selling costs, a negative impact of inventory management, and start up costs associated with certain flavours of the new Smooth, No Chunks ice cream line. Ben & Jerrys selling, general and administrative expenses increased approximately 28% to $36.3 million in 1994 from $28.3 million in 1993 and increased as a percentage of net sales to 24.4% in 1994 from 20.2% in 1993. This increase might reflect the increase in marketing and selling expenses and the increase in the companys administrative infrastructure. Ben & Jerrys loss was not solely due to their employee orientated approach, but they appeared to have taken out a vast amount of capital lease in their aim to automate their production to keep up with the intense competition. As reflected in the balance sheet, Ben & Jerrys had reinvested huge amounts of property and equipment in 1994 increasing their long-term debts by almost 45% in 1993. Alternatives available to the consumer now, and in the foreseeable future Haagen Dazs is currently the main competitor in the concentrated market place for super premium ice cream. Substitutes are however available. There are other ice creams not in the super premium category. To an extent, these are real competitors. However for the market B&J caters for {the up market 25-40s with a high disposable income} their strategies should not have a great impact on B&J. The frozen yogurt lines which B&J now provides, has a number of direct competitors to deal with. Dealing with other substitutes is not that simple. Expensive (or not) chocolate, cakes, croissants and other post meal consumables are realistic options for the consumer. Ferrara Rocha will assure you that their product is the perfect accompaniment to any meal. B&J need to be wary of this. How he/she makes the choice for ice cream (as opposed to chocolate etc.) and then super premium (as opposed to premium or ordinary) and then B&J (as opposed to Haagen Dazs etc.) is essential. [See section 3.21 Research] The possibility of a rival ceasing B&Js place as no.